Big Money, Vegas, and GameStop.
Ordinary people do the extraordinary, again.
Las Vegas.
A lot of heat, a lot of people, a lot of alcohol, and club music playing so loud you need to scream just to be able to talk to the person next to you- in other words a perfect day. But after all the Red Bulls and margaritas were poured, soon everyone there would be talking about one thing. And it wouldn’t be about the upcoming election, it wouldn’t be about Elon Musk, which was the norm, no, it would be about a stock that had left the public eye and had shown no signs of returning. Until someone, the person who had put tens of thousands into GameStop stock when it was worth pennies three years ago, had rallied an online internet army to skyrocket the price, and made millions doing it.
Right at 5:00 p.m.
For the first time in 3 years he would come back to the public eye with one tweet. No words, no investment advice, no update on his riches, none of that. What he did post instead was a photo of a gamer who was leaning back, getting in the ready position. In other words, he was back, and by every indication, he was getting ready do the impossible all over again.
How much was he putting down? Was he putting down the 30 million that his stock was worth in 2021? Did he ever sell? And more importantly, why now? What’s his goal? No one knows. As of now all we have are a ton of cryptic posts on X about moves being made, nonspecific of course. Until of course, this. Right on time.
An Ape Army.
Hundreds turn into thousands, thousands turn into millions. Simple math right? Anyone who’s ever tried trading will tell you the thrill is like no other, almost indescribable. It’s like going all in at the casino, except we’re not talking chips we can touch and carry around after it’s all said and done. We’re talking depositing your money into a living breathing beast. The stock market. Here’s a video of mine talking about Roaring Kitty and his return.
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We’re talking nearly invisible cash. Moving physical money from your safe and reliable bank account, and feeding it directly into a slot machine, where anything can happen. And I mean anything.
Big Money.
Where ordinary people, come together to do the extraordinary. It also helps when less ordinary people like millionaire Dave Portnoy drops $1,000,000 into the ring. ($500,000 in GME 0.00%↑ , and $500,000 in AMC 0.00%↑)
Tap, tap, tap. That’s how long it takes to go to the App Store on your iPhone and download Robinhood and drop big money in penny stocks. Because after all, the last time this happened it didn’t just change lives, it changed Wall Street for better and for always. But that’s another conversation.
This conversation is about getting rich. Buying low, selling high, and never having to worry about the price of guac when you’re at Chipotle ever again. Roaring Kitty, Kieth Gill, initially put in $53,000 in GME 0.00%↑ and at the height on GME 0.00%↑ , at the very tip, that would have earned him $47.9 million.
Setting up is easy, you don’t even need to connect your bank account to get started, but as they say, easy come.. Well, you know how it goes.
Tap, tap, tap. You put big money down, waiting to see your investment double, triple, hell, I’d even take slight increase in market value. But while you’re holding your phone, you see it happen live. It starts to dip.
It would only be a couple days, but anyone who puts big money in a wild beast like GameStop, the psychological warfare alone would feel like a lifetime. As I write this, Dave Portnoy is now officially down -$240,000 as the price of GME 0.00%↑ and AMC 0.00%↑ reaches a low for this week. But by every indication, the Barstool Sports founder is going to be holding on for the foreseeable future.
So What Now?
Wait, wait, wait, I thought this was going to be a happy story? What happens now? Some people lost money? Some people made it? Where do we go from here?
Honestly, who knows. The market will do what the market does. Some are speculating GME 0.00%↑ will hit $100 next week, others believe it’s already hit the top. And others are still waiting to see what Roaring Kitty does. The future isn’t written yet, and all we know for sure is it’s going to be a heck of a ride.
The stock market: it’s a gamble, and I love it.
Ok, love this! It was really informative and entertaining to read. GME to the moooon! 🚀 Jk. I'm done with Robinhood after my experience.
Great newsletter!!! Keep it up!